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6/13/2012 4:29PM

Major Bank Prepares for Possible Greek Retreat

Credit Agricole is making plans to abandon its troubled Greek bank or merge it with a conglomerate of domestic banks in the event of the country leaving the euro zone. Colin Barr has details on The News Hub. Photo: Bloomberg.

This transcript has been automatically generated and may not be 100% accurate.

... the the ... when it ... was called the and ... um they're preparing ... to pull back from Greece if it received a Greek exit from the euro which is something people talk about the very seriously and last month ... and it sort of culmination of the last year in which in which things in the euro zone ... have been going from sort of serious more serious and sort of your frying pan strength is the fire racing in front of house was easily quite possibly one of the this is a big deal not only is aam credit I hold big bank and and prices of the largest listed bank ... aam it's also a big bang for Greece to run ... right and here we have a few foreign banks us societies in Ryles another one and the CPU of court ruled that the dark in Greece ... in one of the questions is ... if if Greece pulls out of the euro in the can for the current effective truck drachmas that does all sorts of different things that plays havoc with with these these banks made loans terrorism ... we danced and get feedback and a currency that ... this is probably can be worth a thousand laughs it saw some of these preparations the making what is the and bawled ... and bawled packing a million Tupac Samsung with the Fed ex because honestly I did it so we were that easy I think that the euro continued to just hire the moving guys and and and and stand up with a loss I cannot write it sort of but it's for reminiscent in some ways of two thousand and four when we haven't had the act will crisis that we have into thousandeight that you use the the the the the thing that they're dealing with here ... is the of a potential Greek exit from the euro which nobody knows exactly how that will put out a move that would not be a lot of fun for a lot of people who have left investors there is is for instance is the credit report does ... he do know exactly what would happen what sequence they were taken will be affected so accurate that they're preparing to do things ... such as transfer assets or were you while wind down various things that it's a it's it's the pretty pre open to ... know what I understand from ... a divestment possible from Alkman Granitsas enemies as some of them would wising outflows possibly up to one on the hop billion euros in the last few days I mean ... that being the ... Greek people are ... again the money out what's right not to receive increased new from last year and half the increase in someone to increase XP imports cost wells that the money ... is leading the domestic banking system and what's on things surprise people is that the money is not necessarily going and other countries a lot of people are just taking the euro zone cream under the mattress ... what you're getting graded keep your money in the bank anyway some attacks on that site so that men were question but there wasn't that helps to remind them that they deftly questions but everyone to focus analysts is that it deftly all the questions that now if credit and called Gospel of this would mean the last time they were traded from a country what it what it in and this is on the European banks of been dealing with the with different point that we silently last are a lot of European banks turn say will learn lots of different countries and a pullback because it costs money due to be in different countries ... were not making money and all these countries on European banks the Fed questions about their capital the filler cap and they did not see a lot of Argentine of this particular Banca aam Watada genius of the crisis to continue to thousands and have a black eye when about pulls out all the bank to give them a bad reputation while I think they don't like to do that I think they think of that is sort of last resort at the same time as a whole different world and banking to the we're facing right now where were seeing the effects of being a for standard perhaps in some of these places and so ... these backers of saving souls we want to wait until there's a crisis or do we wanna move well